World food stocks dwindling

A reason against biofuels?

"In an "unforeseen and unprecedented" shift, the world food supply is dwindling rapidly and food prices are soaring to historic levels, the top food and agriculture official of the United Nations warned Monday," according to the International Herald Tribune.

And, surprise, surprise America's hell bent path towards ethanol is a major player.

"A more complicated issue is the use of crops to make biofuels, which are often heavily subsidized. A major factor in rising corn prices globally is that many farmers in the United States are now selling their corn to make subsidized ethanol.

Mann said the European Union had intentionally set low targets for biofuel use - 10 per cent by 2020 - to limit food price rises and that it plans to import some biofuel. "We don't want all our farmers switching from food to biofuel," he said."

I guess Europeans are smarting than Americans, especially when it comes to politicians.